Should I Lease or Buy New Car?

Having a car is not just a necessity of life. It’s the freedom of going where you want, when you want. Are you ready for a new vehicle? You have the option of leasing or buying. Here are some benefits to consider.

Leasing a car has the following tremendous benefits that you should consider:

1. Lower payments

Since you do not buy the car outright when you lease, you are not liable for sales tax. The overall cost to lease is lower too, resulting in a lower monthly payment.

2. Little or no down payment

When you lease a car, you do not have to come up with a large down payment. Michael Oz from Oz Leasing says that a huge pro of leasing a car is that there is usually no down payment or worrying about depreciation like there is when buying a car. This makes leasing a car a much more accessible option, especially for people who might have trouble coming up with a large sum of money for a down payment.

3. Always having a new car

You’ll never have to worry about driving an older car around if you lease a new one every couple of years. This ensures that you can drive the latest model with all the latest technology.

4. Not having to sell

You never have to worry about selling your leased vehicle. When your car lease expires, all you have to do is bring it back to the dealership and sign the appropriate paperwork.

5. Fewer repair bills

You will have the satisfaction of knowing that your newer leased car is under a manufacturer’s warranty. This saves you from getting large repair bills like the kind associated with a new transmission or suspension.

There are a few benefits to buying a car that is worth considering, too:

1. Ability to hold

When you buy a car, you have the option of keeping that car for as long as you can keep it on the road. This means that eventually you could have no car payment each month. Of course, you would be driving an older vehicle after a time, which has its own downsides.

2. No mileage restrictions

As the owner of the car, you don’t have to answer to anyone about going over any kind of mileage limit. This could be a big benefit if you are the type of person who tends to drive long distances on a regular basis.

3. No appearance restrictions

If you decide to buy your car, you can take excellent care of its appearance or you can choose to ignore regular cleaning and maintenance tasks. If you want to, you never have to clean up your car on the inside or out, since it’s your personal property.

It pays to carefully weigh your options when it comes to getting a new vehicle. As you can see, there are numerous benefits to leasing over buying. Visit your local dealership to see what options are available to you.

Leave a Reply

Your email address will not be published. Required fields are marked *